Taiho Regains Rights to Investigational Cancer Drug in Purchase of Cullinan Subsidiary

Taiho Pharmaceutical will pay $275 million upfront for Cullinan Oncology’s subsidiary, Cullinan Pearl, regaining rights to an investigational cancer drug.

In a February 2019 deal, Taiho granted Cullinan Pearl exclusive global rights beyond Japan for TAS6417, an investigational oral tyrosine kinase inhibitor that targets epidermal growth factor receptor (EGFR) mutations.

TAS6417 is still considered a promising candidate for treatment of patients with EGFR exon 20-mutated nonsmall-cell lung cancer.

In addition to the upfront payment, Cullinan Oncology may receive an additional $130 million in regulatory milestone payments. The acquisition is expected to close in the second quarter of 2022.